Spread Betting the Wall Street Rolling Daily

barjon said:
Mo

OK - as I understand it, you have held a long trade open from Friday. So Monday's gonna be no problem if your indicator says you should be long, but what if it says you should be short? Are you just going to ignore the indicator in which you have great confidence?

cheers

jon
Click to expand...
Hi jon

You have identified a connundrum I may have tomorrow. I have considered my options and regardless of my indicator I will stick with my open long position until it shows a reasonable profit. However I can promise that I will publish the indicator regardless of whether it is Long or Short.
 
I've joined this thread a bit late so not read it all but it has medbs written all over it! "I will stick with my open long position until it shows a reasonable profit"?! What if the market opens and you're in a big losing position?
 
I think you have a slightly clouded view of how SB companies work. I don't expect they can really be bothered with monitoring the 1000s of Systems out there, and they don't really want you to lose either. They're simply businesses working the spread, attracting punters, some probably monitoring client performance and using that to their favour some how, etc...
 
mobanded said:
Hi jon

You have identified a connundrum I may have tomorrow. I have considered my options and regardless of my indicator I will stick with my open long position until it shows a reasonable profit. However I can promise that I will publish the indicator regardless of whether it is Long or Short.
Click to expand...

and if bad news breaks and you're wiped out...?
I suspect you're going to be Ok though with the M&A activity likely to boost things...
 
megamuel said:
I've joined this thread a bit late so not read it all but it has medbs written all over it! "I will stick with my open long position until it shows a reasonable profit"?! What if the market opens and you're in a big losing position?
Click to expand...

Hi megamuel

Suggest you read all of the thread and you will get the answer as to what will happen if I am in a big losing position. For ease of reference I can tell you that I do not use stop losses - can you believe it - most contributors think I haven't a hope of surviving.

I don't know what 'medbs' is but I would guess it is not complimentary.

mobanded
 
leonarda said:
and if bad news breaks and you're wiped out...?
I suspect you're going to be Ok though with the M&A activity likely to boost things...
Click to expand...

Hi Leonardo

I am always prepared for the market to go in the opposite direction and I live with it - if I am wiped out then so be it.

If M&A activity is likely to boost things, what is that you know that I don't? I like to think my knowledge of Dow companies is good and I know of none that are in an M or A position. However, I would point to the possibility of an oversubscription to a large US Motor producer which was verging on bankruptcy and is now due to float again this coming week. My belief is that could very well give the Dow a boost.

Regards
Mobanded

 
mobanded said:
Hi Ross Spur

I'm sorry if it dosen't make sense to you so let me make another attempt at explaining my logic for taking a six point profit.

I went into the market buying the Dow at 10239 (09.53 am). At some point between making the initial trade and it returning to 10245 at about 2.29pm, the Dow dropped to about 10190, at which point I would have been nearly £500 down. The fact that the Dow recovered to 10245 (a 6 point profit)at 2.29pm and my aversion to being in the market at times of wild known fluctuations (nearly every trading day when it opens at 2.30pm UK time, sometimes when announcements are made at 1.30pm UK time and also sometimes at 3pm) would have made me happy to get out with any profit.

I was not aiming for a 6 point profit, it was simply opportune to take the profit without running the risk of the 2.30pm opening fluctuations. I do not understand why this does not make sense to you

Regards
Mobanded
Click to expand...


No, still don't get it, but thanks for trying!

You previous post said you 'would and should have' taken the 6pt. But you didn't, so that's immaterial. Will you take a 6pt profit if the SB quote drifts up overnight?
 
Ross Spur said:
No, still don't get it, but thanks for trying!

You previous post said you 'would and should have' taken the 6pt. But you didn't, so that's immaterial. Will you take a 6pt profit if the SB quote drifts up overnight?
Click to expand...

Hi Ross Spur

Are you by any chance watching CNBC - the Asian markets are opening and having a good affect on the Dow - I am currently £110 up at 23.25. Think I will stick with it for a little longer to get a feel for what is happening in the far east.

Regards
Mobanded
 
mobanded said:
Hi jon

.................I have considered my options and regardless of my indicator I will stick with my open long position until it shows a reasonable profit.............
Click to expand...

Mo

You said in an earlier post when describing the events of Friday "My system told me the trend would be down and I should make only bets that were short". I presume that if you had no position open you would be going short on Monday if your system told you the trend would be down and you would be confident that you would profit from that bet.

But you do have an open long position and it makes no sense to hang on to it and ignore what your system is telling you just because you don't like taking a loss.

If you have confidence in your system then wouldn't the correct course be to stop and reverse (ie: close the long bet and open a short one) rather than hope that this is one of the occasions when your system will be wrong? After all, if your system is that good, you must have a higher expectation of making a profit on a short bet in these circumstances (to offset the loss on your long) than in your system being wrong so as to allow that long to move into profit.

Maybe you won't have the problem and your system will whisper long tomorrow - but you will face it at some time.

cheers

jon
 
Hi

My system indicator suggests a LONG in the Dow and I have done that at 10237 ay 9.06am.

Mobanded
 

Hi
I have sold the Dow at 10247 time - 09.34am


My reason for selling at this point was because the Dow seems to be struggling to push through 10250 - it happened a few times during the early morning and is repeating itself. Also CNBC is saying that volume on all markets is very light.

Profit is £100.

Now looking for a rebound and a reentry to go Long.
 
Last edited:
Mo, if you want to impress us then don't try and do it with profits.

Impress us with your risk management, impress us with £1-£2 a tick per trade, impress us with a profit of just £26 today and perhaps a loss of £8 tomorrow.

You've got your head on the right way but it's the wrong way for trading. Trading is all about risk managment, what you're doing is all about gambling which is why you're 100% guaranteed to go broke, unless you change your ways.

Summary: Successful trading over a period of time is a risk-adjusted game.
 
anley said:
Mo, if you want to impress us then don't try and do it with profits.

Impress us with your risk management, impress us with £1-£2 a tick per trade, impress us with a profit of just £26 today and perhaps a loss of £8 tomorrow.

You've got your head on the right way but it's the wrong way for trading. Trading is all about risk managment, what you're doing is all about gambling which is why you're 100% guaranteed to go broke, unless you change your ways.

Summary: Successful trading over a period of time is a risk-adjusted game.
Click to expand...

Hi Anley

I think it should be clear by now that I pay little regard to the 'norms and accepted methods of trading'. I am doing my own thing (for right or wrong) and if I fall on my face so be it. I am doing a ten day trading scenario from my own perspective and trying to keep the faith with those who have asked for real time information. The fact that I publish my wins is part of the information I am giving. I won't ever publish a loss because my system does not allow it UNLESS I go bust - Yes, I know, it is not a matter of if but when.

Regards
Mobanded
 
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